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Monday April 20, 2015 Weekly Hog Market Facts.

tables of hog prices

Weekly Hog Market Facts page 1

hog prices

Weekly Hog Market Facts page 2

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Hog Market Price Trend Report

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• The Ontario Base Market Hog Price is averaging $182.33ckg, 100 index, up by $0.55/ckg from last week’s average due to a weaker Canadian dollar which is down 0.48 cents to 87.96 cents. The CME Constructed weekly average price of US$88.60/cwt. is down US$0.21/cwt. from last week.
• The USDA Pork Cut-out Value is averaging US$92.68/cwt. which is down US$0.20/cwt. from last week’s average with loins, bellies and ribs up and the other 3 primals down.
• US slaughter has averaged 2,152,243 the last three weeks but remains 4.3% below last year for the same weeks. Dressed weights moved to a 212 average which is 2 pounds above the same week last year.
• Ontario market hog sales year to date continue to be up 2.5% over last year. First quarter sales were up 2%, second quarter up 5% and third quarter is up 2.8%. Fourth quarter sales to-date are slightly under with last year. The weekly average dressed weight continues to be above 102 kg.
• Current daily movement in the pork cut-out, narrower packer margins, cash price and nearby futures along with the expected seasonal trends, indicate next week’s price movement will be sideways.

Daily Prices for Wednesday December 3
• Ontario Base Market Hog Price – C$182.68ckg, 100 index
• CME Constructed Price – US$88.74/cwt.
• Noon-Hour Bank of Canada Canadian Dollar value – 87.93 cents

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So far this week

The Ontario Base Market Hog Price is averaging $244.44/ckg, 100 index, down $6.75/ckg from last week’s average.

This is based on a CME Constructed weekly average price of US$123.29/cwt.  (down US$4.09/cwt. from last week) and a Canadian dollar weekly average of  91.46 cents (down 0.51 cents from last week’s average).

Today’s Daily Prices are:

  • Ontario Base Market Hog Price – C$/240.67ckg, 100 index
  • CME Constructed Price – US$121.53/cwt.
  • Noon-Hour Bank of Canada Canadian Dollar value –  91.56 cents

The USDA Pork Cut-out Value is averaging US$127.13/cwt  which is down US$2.60/cwt.  from last week’s average with all primals down except for bellies .

Estimated U.S. slaughter so far for this week is about 1.81 million (would be down 3% from last week and 11% from same week one year ago)

Barrow and Gilt dressed weights remain about 10 pounds heavier then same week last year (up 8 pounds on average for the year so far)

As of today (Thursday), the above numbers would indicate that the weekly average price could decline again next week.

 

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July 31, 2014

So far this week the Ontario Base Market Hog Price is averaging $251.94/ckg, 100 index, down $4.64/ckg from last week. This is based on a CME Constructed Price weekly average price of US$127.89/cwt. (down US$3.63/cwt. from last week) and a Canadian dollar weekly average of 92.06 cents (down slightly from last week).

Today’s Daily Prices are:
• Ontario Base Market Hog Price – C$249.41/ckg, 100 index
• CME Constructed Price – US$126.29/cwt.
• Noon-Hour Bank of Canada Canadian Dollar value – 91.83 cents

The USDA Pork Cut-out Value is averaging US$130.33/cwt which is down US$2.58/cwt. from last week with all primals down except for hams.

 

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hog prices

 

To subscribe to receive the Ontario Market Hog Price Trend Report email John Bancroft.

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Reposted from ONagbusiness.
USDA Crop Progress Report – May 26, 2013
• Corn planting was 86% complete which is up 15% from last week. This compares to 99% last year and 92% complete on 10 year average. The market expectation was near 85%.
• Soybean planting was 44% complete which is up 20% from last week. This compares to 87% last year and 65% complete on 10 year average. The market expectation was near 40%.
• Spring wheat was 79% complete which is up 12% from last week. This compares to 100% last year and 89% complete on 10 year average.
• Winter wheat condition was 31% good/excellent which is the same as last week

Crop Graph:
• To get your local corn spot price, simply add your local basis
• i.e. new crop future $5.51 + local basis of -$0.75 = $4.76/bu or$187.39/tonne

Weekly Average Corn Futures

Livestock
• US released the final rules to modify Mandatory Country of Origin Labelling (COOL) last week on May 23rd. The two major changes from the initial rule are the required labels are to include information about where each of the production steps occurred and it removed allowances for commingling of muscle cuts. The new labeling requirements go into effect on May 23, 2013 but there is a 6 month education and outreach program which means 100% compliance requirements will be delayed for six months. Both Canada and Mexico have stated they believe the amended rules still violate the World Trade Organization agreements and are prepared to take addition actions.
• Smithfield Foods Inc. (SFD) has confirmed that it has agreed to be acquired by Chinese meat producer Shuanghui Group for about $4.8 billion.

Disclaimer: This commentary is provided for information only and is not intended as advice.

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